Topic: Nights Watch by Afrikoin - page 119. (Read 303329 times)

Bitcoin Price Analysis - PBoC continues to sway markets

http://bravenewcoin.com/news/bitcoin-price-analysis-pboc-continues-to-sway-markets/

At this point, any announcement between the PBoC and Bitcoin exchanges continues to hold bearish sentiment, although the overall impact on Bitcoin itself is negligible. Chinese trading volume is already a fraction of what it once was, largely due to previously inflated numbers. However, Bitcoin’s relatively small market cap means that even a small splash sends ripple across the globe. Events such as these can trigger enough fear, uncertainty, and doubt for emotional selling worldwide.

I think the same. Bitcoin operates separately to a status quo system that is in trouble both individually (countries) and collectively (global debt). At the elitist level, at least some of these people want walled gardens, digital cash and NIRP. Rogoff, the academic head of the elites has said as much, and at some stage governments that ascribe to his elitist theories will try to ban bitcoin.

Not every leader is like this though, and Bitcoin is small. Some of that crowd sees what it can bring (eg to financial services, fees, speed, trust) and it will give some great advantages & profits in the short - medium term as companies and institutions implement bitcoin tech. Plus it is a new asset class that potentially is transformative to many industries and therefore there is profit to be made (why im hodling). This is where the ETF is positioned. No one will want to miss out on the new internet / iphone 10x.

But long term in a collapsing system (as bitcoin provides a possible escape route like gold or overseas real estate has done previously), it is going to get nasty. Gold got Executive Ordered in the 30's- remember - showing that in desperation nothing is out of the question. We'll all get *ice-nined*

My positive spanners in the works are twofold:

1) is that there is no way in a collapsing system that all governments can or will agree to implement the same policy. Bitcoin will just find its way to friendly jurisdictions, like water through a crack.

This leads to 2) That in an 'every man for themselves' situation, the prescient will already be ahead of the game and will have bought up bitcoin as an insurance policy / seat at the 'arms race' table.

100% agreed that PBOC is trying to keep BTC below $1000

possibly cooperating with other governments? US?

Or maybe they are manipulating markets to make huge gains at the expense of "stupid westerners": sell, shock market, buy back cheap

They have done it before several times....  

NASDAQ were the ones who were denying them as far as I can tell. They were the ones who couldn't be arsed to implement the rule change that BATS is.

And this is how real world finance works. If I remember rightly the first gold ETF took considerably longer than four years. This is probably the world's first financial application rabidly watched over by a bunch of brats who live on the internet.

Very obvious, we were inches away from new ATH and PBOC starts investigations.

Price rebounds and is climbing daily then boom, PBOC stops withdrawals.

It is a big IF rather than when. So far we have no luck with any ETF. Winklevoss, known for theirs by the book approach wanted to establish ETF since mid-2013 - with no effects.
Every time they were denied by SEC. Feds know that if they accept 1st fund of this kind there is no going back so they will try to hinder and slow this process as much as they can.

I believe the U.S. SEC and PBoC have financial connections.

I believe the SEC wants to shore up any "bad actors" ahead of the COIN ETF approval and launch, including those in China.  That launch is exactly 4 weeks from now.

I believe the SEC/PBoC knows that there will be a buying frenzy when the COIN ETF launches, and wants to make sure that any Chinese bitcoin buyers are in compliance with KYC/AML policies.

I believe that if/when the COIN ETF gets approved, we will not only see more U.S.-based Bitcoin ETFs also get approval, but also Chinese-based Bitcoin ETFs as well as those in other countries will also start popping up.

All of this is BULLISH AF.

Perhaps the 38.2% fib is a reasonable level for the end of C.

Then a final 5th wave on the higher fractal upto $1100 again?

Wild guess here

Well, looking at all those charts and drawings I have no f**king clue what's going on.

Thanks for the input Afrikoin but for me that's clear as mud.

I'm not getting at you, it's probably my lack of intelligence.